MIRA INFORM REPORT

1. Summary Information

		Country	India
Company Name	RELIANCE RETAIL LIMITED	Principal Name 1	Mr. Mukesh Dhirubhai Ambani
Status	Satisfactory	Principal Name 2	Mr. Manoj Harjivandas Modi
		Registration #	11-114010
Street Address	9^th Floor, Maker Chambers, IV, 222 Nariman Point, Mumbai – 400021, Maharashtra, India
Established Date	17.03.1998	SIC Code	--
Telephone#	91-22-30325000	Business Style 1	Manufacturer
Fax #	91-22-30322268	Business Style 2	Marketer
Homepage	http://www.ril.com	Product Name 1	Polyester Staple
# of employees	12864 (approximately)	Product Name 2	Fabrics
Paid up capital	Rs.57,306,000,000/-	Product Name 3	Polyester Filament Yarn
Shareholders	Bodies corporate (not mentioned above) - 99.82% Others - 0.18%	Banking	State Bank of India
Public Limited Corp.	NO	Business Period	14 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ba (41)
Related Company
Relation	Country	Company Name	CEO
Holding Company	--	Reliance Industries Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	61,666,600,000	Current Liabilities	9,784,400,000
Inventories	0,000	Long-term Liabilities	42,900,000
Fixed Assets	781,800,000	Other Liabilities	29,300,000
Deferred Assets	184,800,000	Total Liabilities	9,856,600,000
Invest& other Assets	4,151,300,000	Retained Earnings	0,000
		Net Worth	56,927,900,000
Total Assets	66,784,500,000	Total Liab. & Equity	66,784,500,000
Total Assets (Previous Year)	59,852,600,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	5 ,806,200,000	Net Profit / (Loss)	(50,200,000)
Sales(Previous yr)	2, 760,800,000	Net Profit / (Loss) (Prev.yr)	(70,000,000)

MIRA INFORM REPORT

Report Date :

17.05.2012

IDENTIFICATION DETAILS

Name :	RELIANCE RETAIL LIMITED

Formerly Known As :	RELIANCE CHEMICALS AND FIBERS PRIVATE LIMITED

Registered Office :	9^th Floor, Maker Chambers, IV, 222 Nariman Point, Mumbai – 400021, Maharashtra.

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	17.03.1998

Com. Reg. No.:	11-114010

Capital Investment / Paid-up Capital :	Rs.57306.000 Millions

CIN No.: [Company Identification No.]	U17120MH1998PLC114010

TAN No.: [Tax Deduction & Collection Account No.]	MUMR19886G

PAN No.: [Permanent Account No.]	AAACR7402E

Legal Form :	A Closely Held Public Limited Liability Company.

Line of Business :	Manufacturers and Marketers of Fabrics, Polyester Filament Yarn, Polyester Staple Fibres, PTA, LAB, Ethylene Glycol, PVC, PE, PP, Crude Oil, Gas, Norman Paraffin, Fibre Fill, Ethylene, Propylene, Benzene, Xylene and Toluene.

No. of Employees :	12864 (approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 230000000

Status :	Satisfactory

Payment Behaviour :	Regular

Litigation :	Clear

Comments :	Reliance Retail Limited is a subsidiary of Reliance industries limited. It is an established company having satisfactory track. There appears some accumulated losses recorded by the company. However trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. In view of strong promoters the company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	9^th Floor, Maker Chambers, IV, 222 Nariman Point, Mumbai – 400021, Maharashtra, India.
Tel. No.:	91-22-30325000/30327000/22785000
Fax No.:	91-22-30322268
E-Mail :	info@ril.com investor_relations@ril.com sridhar.kothandaraman@ril.com mukesh.ambani@ril.com d-jain@kellog.northwestern.edu jyotin.mehta@icicibank.com manoj.modi@ril.com
Website :	http://www.ril.com

Administrative Office :	Chitrakoot, 2^nd Floor, Shree Ram Mills Compound, Ganpatrao Kadam Marg, Worli, Mumbai – 400 013, Maharashtra
Tel. No.:	91-22-24962780/ 24981163/ 24981167/ 24981667-90

Corporate Office :	Reliance Center, 19, Walchand Hirachand Marg, Ballard Estate, Mumbai-400038, Maharashtra, India
Tel. No.:	91-22-30327000

Factory 1 :	Patalganga Complex, B-4 Industrial Area, Patalganga, Off Mumbai-Pune Road, Near Panvel, Dist. Raigad – 410 207, Maharashtra State, India.

Factory 2 :	Naroda Complex, 103/106 Naroda Industrial Estate, Naroda, Ahmedabad – 382 330, Gujarat State, India.

Factory 3 :	Hazira Complex, Village Mora, Bhatha P. O. Surat-Hazira Road, Surat – 394 510, Gujarat State, India.

Factory 4:	Jamnagar Complex, Village Meghpar/Padana, Taluka Lalpur, Jamnagar-361280, Gujarat, India

Refinery Complex :	Taluka Lalpur, District Jamnagar, Gujarat, India.

Branches :	Chitrakoot, Shree Ram Mills Compound, Ganpatrao Kadam Marg, Worli, Mumbai – 400018, Maharashtra, India.

Retail Office :	Reliance Corporate Park, Building NO. 4, Ground Floor, C Wing, Thane – Belapur Road, Ghansoli, Navi Mumbai – 400 701, Maharashtra, India
Tel. No.:	91-22-44770000
Fax No.:	91-22-29771882

DIRECTORS

As on 31.12.2011

Name :	Mr. Mukesh Dhirubhai Ambani
Designation :	Director
Address :	“Sea Wind”, 39, Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India.
Date of Birth/Age :	19.04.1957
Qualification :	Chemical Engineer from Mumbai University and MBA from Stanford University, U.S.A.
Date of Appointment :	04.03.2006
DIN No.:	00001695

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L17110MH1973PLC019786	RELIANCE INDUSTRIES LIMITED	Managing director	19-04-09	01-04-77	-	Active	NO
2	L23200GJ1969PLC001569	INDIAN PETROCHEMICALS CORPORATION LIMITED	Director	04-06-02	04-06-02	-	Amalgamated	NO
3	U80101MH2002NPL136300	PRATHAM EDUCATION FOUNDATION	Director	24-06-02	24-06-02	-	Active	NO
4	L11100GJ2005PLC048030	RELIANCE PETROLEUM LIMITED	Director	24-10-05	24-10-05	-	Amalgamated	NO
5	U67120MH2005PTC157980	KDA ENTERPRISES PRIVATE LIMITED	Director	22-09-07	12-12-05	-	Active	NO
6	U17120MH1998PLC114010	RELIANCE RETAIL LIMITED	Director	04-03-06	04-03-06	-	Active	NO
7	U72900PB2007PLC030897	INFOTEL BROADBAND SERVICES LIMITED	Director	07-09-11	22-06-10	-	Active	NO
8	U85110MH2010NPL207270	RELIANCE FOUNDATION	Director	30-08-10	30-08-10	-	Active	NO
9	U52100MH2008PTC178019	IMG RELIANCE PRIVATE LIMITED	Director	29-09-11	10-03-11	-	Active	NO

Name :	Mr. Manoj Harjivandas Modi
Designation :	Director
Address :	Flat No. 7, Best Apartments, Walkeshwar, Mumbai – 400006, Maharashtra, India
Date of Birth/Age :	03.07.1957
Date of Appointment :	04.03.2006
PAN No.	AACPM2036L
DIN No.:	00056207

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U72200KA1991PTC012483	TALLY SOLUTIONS PRIVATE LIMITED	Director	09-12-99	09-12-99	19-05-09	Active	NO
2	L11100GJ2005PLC048030	RELIANCE PETROLEUM LIMITED	Director	24-10-05	24-10-05	27-03-07	Amalgamated	NO
3	U17120MH1998PLC114010	RELIANCE RETAIL LIMITED	Director	04-03-06	04-03-06	-	Active	NO
4	U72900PB2007PLC030897	INFOTEL BROADBAND SERVICES LIMITED	Director	07-09-11	22-06-10	-	Active	NO
5	L55101WB1949PLC017981	EIH LIMITED	Additional director	31-10-11	31-10-11	-	Active	NO

Name :	Mr. Dipak Chand Jain
Designation :	Director
Address :	915 Hamlin Street, Evanston, Illinois, North America -60201, U.S.A.
Date of Birth/Age :	09.06.1957
Date of Appointment :	04.03.2006
DIN No.:	00228513

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L17110MH1973PLC019786	RELIANCE INDUSTRIES LIMITED	Director	04-08-05	04-08-05	-	Active	NO
2	U17120MH1998PLC114010	RELIANCE RETAIL LIMITED	Director	04-03-06	04-03-06	-	Active	NO
3	L21090BR1918PLC000013	HINDUSTAN MEDIA VENTURES LIMITED	Director	15-07-11	27-08-10	-	Active	NO
4	U80904DL2011NPL219159	HT GLOBAL EDUCATION	Additional director	03-12-11	03-12-11	-	Active	NO

Name :	Mr. Gwyn Sundhagul
Designation :	Director
Address :	199/6, Moo 3 , Soi Ruammitrpattana, Taraeng, Bang Khen, Bangkok – 10220, Thailand
Date of Birth/Age :	09.08.1962
Date of Appointment :	22.01.2010
DIN No.:	02873324

KEY EXECUTIVES

Name :	Mr. Sridhar Kothandaraman
Designation :	Secretary
Address :	Flat No. 3, 11^th Floor, B-4, Millennium Towers, Sector – 9, Sanpada, Navi Mumbai – 400705, Maharashtra, India.
Date of Birth/Age :	29.12.1972
Date of Appointment :	16.03.2006
PAN No.:	AKPMK3675M

Name :	Mr. Raja Kozhumum Ramachandran
Designation :	Manager
Address :	1703 / 1704, Building No. 1, Raheja Classique, New Link Road, Andheri (West), Mumbai – 400053, Maharashtra, India
Date of Birth/Age :	19.12.1956
Date of Appointment :	07.03.2006
PAN No.:	ADLPR6435Q

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.12.2011

Names of Shareholders		No. of Shares

Reliance Industries Limited, India		5220000000
Bijaya kumar Pareswar Sahoo		600000
Laxmidas Vallabhdas Merchant		1950000
Tarun Ghanshyamdas Jhunjhunwala		100000
Kolummum Ramachandran Raja		850000
Srinivasan Parvatheesam Bodapati		100000
Shailesh Sankalchand Bhalavat		50000
Jyothindra Hiralal Thacker		100000
Satish Ramanlal Parikh		50000
Kaushal Vijay Nevrekar		50000
Harish Dhirajlal Shah		850000
Rajkumar Narayandas Pugalia		100000
Rajan Krishan Luthra		100000
Ashish Manilal Chauhan		100000
Pankaj Mohan Pawar		100000
Kiran Thomas		100000
Rahul Brijesh Mishra		50000
Anish Keshavlal Shah		100000
Bhadresh Chandrakant Gandhi		50000
Umesh Uttamraj Bhandari		500000

Equity Share capital Breakup:

As on 31.12.2011

Category	Percentage
Bodies corporate (not mentioned above)	99.82
Others	0.18
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturers and Marketers of Fabrics, Polyester Filament Yarn, Polyester Staple Fibres, PTA, LAB, Ethylene Glycol, PVC, PE, PP, Crude Oil, Gas, Norman Paraffin, Fibre Fill, Ethylene, Propylene, Benzene, Xylene and Toluene.

Brand Names :

Recron Apparels, Home textiles Industrial sewing

threads, Automotive Upholstery

Recron Fibrefill Sleep Product: Pillows, Cushions, Toys, Quits,

Mattresses

Recron 3S Construction Industry (concrere/mortar),

asbestos cement (sheet and pipe), paper industry

(conventional and speciality), battery industry

Recron Stretch Denims, shirting, suiting, dress material, T-

shirt, sportswear, swimwear

Recron Coutluk Shirting, Suiting, furnishing fabric, curtain and

bed sheet

Recron Dyefast Knitted cardigan, decorative fabric and home

furnishing

Recron Superblack Apparel, automotive, non-woven and interlling

Recron Superdye Woven and knitted apparel, furnishing and home

textile

Fiber Intermediates Raw Material

Relpet Packing-water, soft drinks, beverages,

confectionery

Repol Packaging-Woven sacks, TQ and BOPP films,

Unipol containers

Relene Packaging-woven sanks, films

Reclair Packaging-films, squeeze bottles

Reon Pipes and fittings, profiles

Relpipe Irrigation, water supply, drainage, industrial

effluents, telecom cable ducts, gas distribution

Relab Detergents

Vimal Apparels, fabrics

Harmony Furnishing, home textiles

RueRel Apparels, Fabrics

Vimal V2 Apparels, Fabrics

Reance Suits, shirts and trousers

SlumbeRel Sleep products

Refining Refinery of domestic and Industrial Fuel

Oil & Gas Refining, power, fertilisers and petrochemicals

GENERAL INFORMATION

No. of Employees :

12864 (approximately)

Bankers :

· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai – 400013, Maharashtra, India.

· ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India.

· Andhra Bank, Mumbai

· Bank of America, Mumbai

· Bank of Baroda, Mumbai

· Bank of India, Mumbai

· Canara Bank, Mumbai

· Central Bank of India, Mumbai

· Citibank N. A., Mumbai

· Corporation Bank, Mumbai

· Deutsche Bank, Mumbai

· Dena Bank, Mumbai

· Hongkong Bank, Mumbai

· IDBI Bank Limited, Mumbai

· Indian Bank, Mumbai

· Indian Overseas Bank, Mumbai

· Oriental Bank of Commerce, Mumbai

· Punjab National Bank, Mumbai

· State Bank of India, Mumbai

· State Bank of Saurashtra, Mumbai

· Standard Chartered Grindlays Bank Limited, Mumbai

· Syndicate Bank, Mumbai

· Union Bank of India, Mumbai

· Vijaya Bank, Mumbai

· ICICI Bank Limited, Land Mark Race Cource Circle, Alkapuri, Baroda-390015, Gujarat

· Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India.

· ABN AMRO Bank, Mumbai

· Allahabad Bank, Mumbai

Facilities :

Secured Loans	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)

Loans Taken For Vehicles Secured	0.000	180.400
Working Capital Loans Banks Secured	42.900	34.700
Total	42.900	215.100

Notes :-

Loans are secured by way of lien on all term deposits.


Banking Relations :	--

Auditors :
Name :	Chaturvedi and Shah Chartered Accountants 714/715, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400021, Maharashtra, India S.V. Ghatalia and Associates Chartered Accountant Jalan Mill Compound, 95, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013, Maharashtra, India

Subsidiaries :	Reliance Agri Products Distribution Limited Reliance Autozone Limited Reliance Brands Limited Reliance Dairy Foods Limited (CIN No. : U15419MH2006PLC165826) Reliance Digital Media Limited Reliance F and B Services Limited (CIN No. : U85190MH2000PLC126442) Reliance Financial Distribution and Advisory Services Limited Reliance Food Processing Solutions Limited Reliance Footprint Limited Reliance Fresh Limited (CIN No. : U01100MH1999PLC120563) Reliance Gems and Jewels Limited Reliance Home Store Limited Reliance Hypermart Limited (CIN No. : U51909MH2006PLC166163) Reliance Infrastructure Management Services Limited Reliance Integrated Agri Solutions Limited Reliance Leisures Limited Reliance Lifestyle Holdings Limited Reliance Loyalty and Analytics Limited Two Sisters Foods India Limited (formally Reliance Nutritional Food Processors Limited) Reliance One Enterprises Limited Reliance People Serve Limited Reliance Personal Electronics Limited Reliance Petro Marketing Limited Reliance Replay Gaming Limited Reliance Retail Finance Limited Reliance Retail Insurance Broking Limited Reliance Retail Securities and Broking Company Limited Reliance Retail Travel and Forex Services Limited Reliance Review Cinema Limited Reliance Supply Chain Solutions Limited (CIN No. : U52190MH2007PLC175508) Reliance Trade Services Centre Limited Reliance Trends Limited Reliance Universal Ventures Limited Reliance Vantage Retail Limited (CIN No. : U51109GJ2007PLC049968) Reliance Wellness Limited Reliance digital Retail Limited RESQ Limited Retail Concept and Services (India) Limited (CIN No. : U15130MH2003PLC139197) Delight Proteins Limited (CIN No. : U74140MH2000PLC128371) Strategic Manpower Solutions Limited Reliance Home Products Limited (From1st January 2011) Reliance Office Solutions Private Limited (formerly Daiwik Trading Private Limited) (From 14th October, 2010) Reliance-Grand Optical Private Limited Reliance Style Fashion India Limited (From 1st November 2010) Reliance Styles India Limited (From 1st March 2011)

Joint Venture and Associates :	Reliance Vornado Development Private Limited Reliance Vornado Management Private Limited Reliance-GrandVision India Supply Private Limited Reliance-Vision Express Private Limited Marks and Spencer Reliance India Private Limited Supreme Tradelinks Private Limited (wholly owned subsidiary of Marks and Spencer Reliance India Private Limited) Office Depot Reliance Supply Solutions Private Limited (formerly eOfficePlanet India Private Limited) (From 11th December, 2010)

Fellow Subsidiary :	Reliance Corporate IT Park Limited

Holding Company :	Reliance Industries Limited CIN No. : L17110MH1973PLC019786

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000000	Equity Shares	Rs.10/- each	Rs. 150000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5730600000	Equity Shares	Rs. 10/- each	Rs.57306.000 Millions

NOTE :-

Out of the above, Reliance Industries Limited, the holding company, holds 5220000000 (Previous Year 3,390,000,000) fully paid-up Equity Shares and NIL (Previous Year 6,100,000,000) partly paid-up Equity Shares.

The Company is authorised to issue up to forty nine crore Restricted Stock Units ("RSUs") to eligible employees (including employees of Reliance Industries Limited, the holding company) under Reliance Retail Restricted Stock Unit Plan 2007. The RSUs vest on different dates over a period of sixteen years from the date of grant of RSUs as per the scheme announced and upon vesting, the employees are entitled to one Equity Share of Rs. 10 each for every RSU. As on March 31, 2011, RSUs in force total to four crore fifty five lakh seventy one thousand one hundred eighty nine.

In terms of the Scheme of Arrangement (“the Scheme”) under Sections 391 to 394 of the Companies Act, 1956, sanctioned by the Hon’ble High Court of Judicature at Bombay vide Order dated 14^th October, 2011 certain undertakings of the Company’s nine subsidiaries namely Reliance Agri Products Distribution Limited, Retail Concepts and Services (India) Limited, Reliance Food Processing Solutions Limited, Reliance Home Store Limited, Reliance Hypermart Limited, Reliance Integrated Agri Solutions Limited, Reliance Lifestyle Holdings Limited, Reliance Supply Chain Solutions Limited and Reliance Wellness Limited were demerged and vested with Reliance Fresh Limited, a subsidiary of the Company and the issued but uncalled share capital of the Company has been reduced along with simultaneous consolidation and division of the issued share capital under Sections 100 and 94 of the Companies Act, 1956. The Scheme became effective on 1st December, 2011, the Appointed Date being 1st April, 2010. The effect of the Scheme has been considered in these financial statements for the year ended 31st March, 2011.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		57306.000	57300.000	40510.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(378.100)	(137.500)	(319.753)
NETWORTH		56927.900	57162.500	40190.247
LOAN FUNDS
1] Secured Loans		42.900	215.100	443.710
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		42.900	215.100	443.710
DEFERRED TAX LIABILITIES		0.000	0.000	0.000

TOTAL		56970.800	57377.600	40633.957

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		781.800	655.000	245.779
Capital work-in-progress		483.900	636.800	1076.668

INVESTMENT		3667.400	1761.000	1182.763
DEFERREX TAX ASSETS		184.800	375.000	122.768

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	1916.700	1377.618
	Sundry Debtors	1.900	97.900	356.615
	Cash & Bank Balances	126.000	305.900	732.986
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	61538.700	54099.300	48299.926
Total Current Assets		61666.600	56419.800	50767.145
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	9784.400	2443.900	12585.898
	Other Current Liabilities	0.000	0.000
	Provisions	29.300	31.100	185.257
Total Current Liabilities		9813.700	2475.000	12771.155
Net Current Assets		51852.900	53944.800	37995.990

MISCELLANEOUS EXPENSES		0.000	5.000	9.989

TOTAL		56970.800	57377.600	40633.957

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	5806.200	2760.800	5840.752
		Other Income	328.300	37.100	299.839
		TOTAL (A)	6134.500	2797.900	6140.591

Less	EXPENSES
		Consumption Materials Changes Inventories	4732.600	1451.500
		Employee Related Expenses	479.500	320.100
		Administrative Selling Other Expenses	904.300	1046.200
		TOTAL (B)	6116.400	2817.800	6317.136

Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		18.100	(19.900)	(176.545)

Less	FINANCIAL EXPENSES (D)		45.200	32.500	36.380

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(27.100)	(52.400)	(212.925)

Less/ Add	DEPRECIATION/ AMORTISATION (F)		23.100	17.600	29.741

	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(50.200)	(70.000)	(242.666)

Less	TAX (I)		(190.400)	(252.200)	40.212

	PROFIT / (LOSS) AFTER TAX (G-I) (J)		(240.600)	182.200	(202.454)

	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(137.500)	(319.700)	(117.299)

	BALANCE CARRIED TO THE B/S		(378.100)	(137.500)	(319.753)

	IMPORTS
		Traded Goods	NA	0.000	38.866
		Capital Goods	NA	0.000	21.442
	TOTAL IMPORTS		NA	0.000	60.308

	Earnings / (Loss) Per Share (Rs.)		(0.04)	0.04	(0.05)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(3.92)	6.51	(3.29)

Net Profit Margin (PBT/Sales)	(%)	(0.86)	(2.54)	(4.15)

Return on Total Assets (PBT/Total Assets}	(%)	(0.08)	(0.12)	(0.47)

Return on Investment (ROI) (PBT/Networth)		0.00	0.00	(0.01)

Debt Equity Ratio (Total Liability/Networth)		0.17	0.05	0.33

Current Ratio (Current Asset/Current Liability)		6.28	22.80	3.97

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	No
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	Yes
8) No. of employees	Yes
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

OVERVIEW OF OPERATIONS

During the year the Company through its wholly-owned subsidiaries continued to expand presence of its value and specialty formats by launching over 90 new stores across India. In-store initiatives, wider product choice and value merchandising enabled Subject to achieve robust growth during the year under review. Subject has the highest geographical footprint with over 1000 stores across 86 cities and is also the largest food retailer in India. Subject has the largest diversified portfolio in terms of formats among all retailers in the Country. Every week over 2.5 million customers shop in stores across value and specialty format.

Subject established partnerships with several leading international brands aimed at meeting customer aspirations. During the year, Subject doubled the presence of its partner businesses and operated over 160 stores spread across major States in India. In partnership with GrandVision, 51 new stores were opened during the year in the eyecare business taking the total presence to over 100 stores across the Country. During the year Subject launched the iconic Hamley’s toy stores in India, beginning a new era in the evolution of toy market in India. In the fashion and apparel segment over 40 stores with leading brand partners like Marks & Spencer, Diesel, Paul & Shark, Zegna and Timberland were in operation. Subject through its subsidiary Reliance Brands Limited also entered into exclusive licensing agreements with two leading international brands, ‘Steve Madden’, a leading designer and retailer of fashion-forward footwear and ‘Quiksilver’, the world’s leading outdoor sports lifestyle company.

Subject’s RelianceOne membership program has patronage of over 7 million customers across India and continues to grow at a rapid pace.

In the coming year, Subject will continue to focus on its core purpose of ‘Bettering the lives of Indians everyday’ and on attaining the market leadership in value as well as specialty segment. With the continued expansion of the Company and sharing of strong sourcing capabilities and relationships with a large network of vendors combined with strategic partnerships with international brands, the directors are upbeat on strong performance of the Company and its subsidiaries in the coming years.

Bankers Charges Report as per Registry

This form is for	Creation of charge
Corporate identity number of the company	U17120MH1998PLC114010
Name of the company	RELIANCE RETAIL LIMITED
Address of the registered office or of the principal place of business in India of the company	9^TH Floor, Maker Chambers IV, 222, Nariman Point, Mumbai – 400021, Maharashtra, India
Type of charge	Movable Property (not being pledge)
Particular of charge holder	CIN: L65190GJ1994PLC021012 Name : ICICI Bank Limited Address: Land Mark Race Course Circle, Alkapuri City: Baroda State: Gujarat ISO country code: IN Pin code: 390015 E-mail ID: jyotin.mehta@icicibank.com
Nature of description of the instrument creating or modifying the charge	Unattested Deed of Hypothecation executed on 30.03.2007 between the Company and ICICI Bank Limited
Date of instrument Creating the charge	30.03.2007
Amount secured by the charge	Rs. 35.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Extent and Operation of the charge - First and exclusive charge on the vehicles (to be purchased under the loan facility as detailed under Schedule – II) by way of Hypothecation to secure repayment and payment of the Facilities and all interest, commission, costs charges, expenses and all other monies, whatsoever stipulated in or payable by the Company under the unattested Deed of Hypothecation.

FIXED ASSETS

Freehold Land
Leasehold Land
Plant and Machinery
Electric Installations
Equipments
Furniture and Fixtures
Vehicles
Leasehold Improvement

AS PER WEB DETAILS:

PROFILE:

Subject is gearing up to revolutionize the retailing industry in India. Company is aggressively working on introducing a pan-India network of retail outlets in multiple formats.

A world class shopping environment, state of art technology, a seamless supply chain infrastructure, a host of unique value-added services and above all, unmatched customer experience, is what this initiative is all about.

The retail initiative of Reliance will be without a parallel in size and spread and make India proud. Ensuring better returns to Indian farmers and manufacturers and greater value for the Indian consumer, both in quality and quantity, will be an integral feature of this project. By creating value at all levels, they will actively endeavor to contribute to India's growth.

The project will boast of a seamless supply chain infrastructure, unprecedented even by world standards. Through multiple formats and a wide range of categories, Reliance is aiming to touch almost every Indian customer and supplier.

Growth through Value Creation

With a vision to generate inclusive growth and prosperity for farmers, vendor partners, small shopkeepers and consumers, Subject, a subsidiary of RIL, was set up to lead Reliance Group’s foray into organized retail.

Since its inception in 2006, Subject has grown into an organisation that caters to millions of customers, thousands of farmers and vendors. Based on its core growth strategy of backward integration, Subject has made rapid progress towards building an entire value chain starting from the farmers to the end consumers.

Reliance Retail continued to expand presence of its value and specialty formats. During the year, Reliance Retail opened 90 new stores spanning across 'value' and 'specialty' segments. In-store initiatives, wider product choice and value merchandising enabled the business to achieve robust growth during this period.

Its presence in the optics business is in partnership with Grand Vision. 51 new stores were added during FY-11 taking the total presence to 100 stores across key markets in the country. The retail chain offers single brand optical products including Vision Express frames, lenses, contact lenses, sunglasses, solutions and accessories.

For the very first time, consumers in India got the opportunity to experience Hamleys, which is considered to be the world's most wonderful toy shop. The brand was launched in India with opening up of 2 stores during the year.

iStore by Reliance Digital is a one-stop-shop for all Apple products and services. There are 17 such stores currently operational.

Reliance Brands also announced exclusive licensing arrangement with two leading international brands:

Steve Madden, a leading designer, wholesaler and retailer of fashion-forward footwear and accessories for women, men and children.

Quiksilver, a leading outdoor sports lifestyle company to launch their core brands 'Quiksilver' and 'Roxy'.

Across India, Reliance Retail serves over 2.5 million customers every week. Its loyalty programme, "Reliance One", has the patronage of more than 6.75 million customers.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.29
UK Pound	1	Rs.86.61
Euro	1	Rs.68.87

INFORMATION DETAILS

Report Prepared by :

BSN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	-
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	-
--CREDIT LINES	1~10	6
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		41

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

0.000

1916.700

1377.618

1.900

97.900

356.615

126.000

305.900

732.986

0.000

0.000

0.000

61538.700

54099.300

48299.926

61666.600

56419.800

50767.145

9784.400

2443.900

12585.898

0.000

0.000

29.300

31.100

185.257

9813.700

2475.000

12771.155

51852.900

53944.800

37995.990

Unit